Bond yields edged higher on Wednesday, as investors await minutes of the April policy meeting of the nation's rate-setting Monetary Policy Committee.
In the global market, the U.S. yield curve on Tuesday was at its flattest in over a decade, driven by rising short-dated Treasury yields and a fall at the long end, even as geopolitical and trade risks eased. Furthermore, oil prices edged up, lifted by a reported fall in U.S. crude inventories and by the ongoing risk of supply disruptions.
Back home, the yields on new 10 year Government Stock were trading 3 basis point higher at 7.52% from its previous close of 7.49% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.42% from its previous close of 7.40% on Tuesday.